---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-21-023242"
form_type: "8-K"
ticker: "GEDC"
cik: "0001174891"
company_name: "CalEthos, Inc."
filed_at: "2021-09-21T23:59:59+00:00"
generated_at: "2026-06-29T02:14:10.029666+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# CalEthos raises $3.5M via OID convertible note, grants 11.5M shares to CEO/CTO

## Summary
- Sold $3.85M convertible note (10% OID) and Series A warrant for 1.54M shares at $1.87; net proceeds $3.5M.
- Note converts at $1.25/share; automatic conversion triggers on registration of 5M+ shares or $3.00 closing price for 60 days.
- Entered consulting agreements with CEO Michael Campbell (via M1 Advisors) and CTO Hyuncheol Kim at $200K/yr each.
- Granted 1.5M shares to M1 Advisors and 10M shares to Hyuncheol Kim, vesting on ASIC chip development milestones.
- After stock grants, 25.97M shares outstanding; M1 Advisors holds ~40.25% on a fully-diluted basis.

## SEC filing metadata
- accession: 0001493152-21-023242
- form_type: 8-K
- ticker: GEDC
- cik: 0001174891
- company_name: CalEthos, Inc.
- filed_at: 2021-09-21T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 3.02, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1174891/000149315221023242/0001493152-21-023242-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1174891/000149315221023242/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-21-023242
- JSON: https://secwatch.observer/filing/0001493152-21-023242.json
- Plain text: https://secwatch.observer/filing/0001493152-21-023242.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.